Does a day in the Genesis creation account mean 24 hours?

There have been some disputes in recent years about whether or not the word “day” at the beginning of Genesis actually means a 24-hour period. Some have even quoted scriptures like 2 Peter 3:8 (a thousand years is as one day with the Lord) to make the claim this applies to an extended period of time longer than a six-day creation that young-earthers believe in. The video below from the Institute for Creation Research clears up the confusion referring to some key points mentioned in the Bible.